New name and new flag for Alfa Nero

Lets be straight. The Government of AB are profiteering off assets that have been placed on a foreign sanctions list! Not even powerful EU countries or the US have changed their laws to confiscate “frozen” Russian central bank assets, because to do so would be illegal, immoral and been seen as outright theft in the eyes of the world! The environment argument doesn’t require a confiscation of assets, a forced sale of said assets and the appropriation of said sale proceeds by the Government. The unpaid bills argument is a private and civil matter. Again, not something that requires the confiscation of assets, a forced sale of said assets and the appropriation of said sale proceeds by the Government. The Government’s stated ambition is to confiscate and sell the Alfa Nero, which has a reported value of approximately US$ 100m to settle debts of less than US$1m, and to keep the rest of the proceeds for itself! If that is not immoral or theft then I don’t know what else is! Forget the owner is purportedly a Russian (if you hate Russians and all things Russian). We must defend private property rights and the rule of law. What if the sanctioned individual owned property on the island but couldn’t pay utility bills? What’s to stop this Government confiscating and selling the property? Where will the line be drawn? The ongoing saga of Alfa Nero’s current predicament, and fate, has grabbed international headlines for the past year. With the US’ role a mere subplot in the media, all eyes (and in particular those of investors and partners) are on Antigua and Barbuda and its Government, with potentially dire and long-lasting consequences for our rule of law, private property rights, the economy and investment climate. Not only that (as if that weren’t enough to worry about), optically, how would it look to the outside world? An outside world amid great change as more and more countries are beginning to act more independently and in their own interests. Mr Browne should take heed. These countries have politicians, leaders, prominent business people. What if they and/or their assets end up a sanctions list? Will they take heed of the Government’s decision to amend laws so that it can confiscate private property “on a sanctions list” and decide not to ever step foot again on the island or bring or purchase property or do business in Antigua? If Alfa Nero does indeed belong to Mr. Guryev, then she is not subject to US sanctions, as she is in Antigua and Barbuda, not in the US. As a sovereign nation, we have no obligation to abide by the US’ political and legislative decisions. This is the correct legal position and one that has been taken by most countries that have found themselves hosting US-sanctioned Russian assets. As such, any compliance by Antigua and Barbuda is entirely voluntary. However, compliance does not equate to confiscation of assets. Compliance does not require a change in laws to allow the confiscation of assets and the appropriation by the Government of the sale proceeds. Only real sanctions, and not apparent sanctions should matter; and those sanctions should be sanctions imposed by Antigua and Barbuda, not those of a foreign state. With this in mind, it appears that Government has rushed legislative changes so that in the context of “apparent sanctions”, “abandonment” or “economic and environmental risks”, confiscation and appropriation would be permitted. This has frightening implications for all private property in Antigua and Barbuda. As a nation, we have a choice. To be the willing enabler of US dictate (and be seen as profiteering from the sanctions), diminishing our standing in this new multi polar world that is emerging, or to stand by our own laws and economic interests as an independent and sovereign state. If we go for the money, it will come back to haunt us. It will reinforce old stereotypes “why you can’t trust doing business in any banana republic cause it’s the law of the jungle down there”. The real owner armed with their lawyers, the banks, the financiers, the third parties with their liens and security interests and contracts to boot will come for their boat. By then the money will be long gone and the Government of the day will be left holding the bag and we the people, the taxpayers will suffer. If US sanctions have stranded Alfa Nero in our waters, the US should pay for its upkeep and debts. If not, the US should issue a clarification that Alfa Nero is not sanctioned and facilitate all actions needed to get her on her way and out of our waters to then become someone else’s headache. If not, we, Antiguans, should stay out of it! Take steps to better secure the boat from an environmental disaster if you have to but don’t confiscate the boat and pocket all the proceeds as if it belongs to you because you passed a local Act of Parliament! That does not negate legal claims of ownership! Lets call a spade a spade! Alfa Nero has been a regular and loyal visitor to the shores of Antigua and Barbuda. She, her crew and her guests have made notable contributions to our local economy and yachting industry for many years. She is our respectful guest and should be treated as such. And we should respect our own laws, principles and ourselves when navigating troubled waters, especially when those troubled waters are not of our making and have nothing to do with us. We can be respectful to all sides in this dispute, but we must first respect ourselves and our principles. – A Concerned Antiguan